The Government Pension Fund Global, as it is officially known, or the Oil Fund, as everyone calls it, is probably the world’s biggest sovereign-wealth fund. It is currently worth about $760 billion and is expected to grow to more than $1.1 trillion by 2020.
The fund owns an average of 2.5% of every European listed company. It is a big shareholder in a raft of blue-chip companies, such as Royal Dutch Shell, HSBC and Apple, and has a 9% stake in BlackRock, the world’s biggest fund manager………………………………………..Full Article: Source

British Columbia Finance Minister Michael de Jong says plans for a wealth fund from liquefied natural gas tax revenues in coming years will focus on debt reduction.
The government’s objective is to “systemically and statutorily prevent governments from raiding the cookie jar” and devote proceeds first to debt reduction, de Jong said today at the Bloomberg Canadian Bond Conference in New York………………………………………..Full Article: Source

Executive Director of the Georgian Partnership Fund Irakli Kovzanadze met with the mission of the International Monetary Fund (IMF). The projects funded by the Partnership Fund, as well as the process of establishing the Sovereign Fund based on the Partnership Fund in Georgia were discussed during a meeting with head of the IMF mission Mark Griffiths, IMF Permanent Representative in Georgia Edward Martin and head of the IMF fiscal mission Dmitry Radev.
“The IMF is actively involved in the preparation of those legislative initiatives on the basis of which the Sovereign Fund should be set up,” the Partnership Fund said. “The matter rests in the formation of the supervisory and investment councils of the Sovereign Fund, as well as the methodology and criteria of projects to be financed by the fund.”……………………………………….Full Article: Source

A new report, written by Professor David Mackay, chief scientific advisor to the Department of Energy and Climate Change, and Dr Timothy Stone, Senior advisor to the Secretary of State, has intricately accessed how the greenhouse gas emissions that would be released from developing shale gas in the UK, would affect the country’s emission targets.
Ed Davey, the Energy and Climate Change Secretary, explained that the report conclude that with the right safeguards, the level of greenhouse gases emitted during shale gas production would be relatively low, and would have a far lower carbon footprint than coal of imported liquefied natural gas (LNG). ……………………………………….Full Article: Source

Next year Kazakhstan will start investing oil savings into its own economy, according to the country’s Economic Affairs Minister Erbolat Dossayev. “In 2014-2016 Kazakhstan plans to inject its oil savings into the national economy, notably infrastructure projects to boost transit shipment and facilitate Kazakhstan’s exports to global markets”, Kursiv.kz quoted the Minister as saying.
To this end, the annual transfer [to complement the country’s budget] from the National Oil Fund will make up about $9 billion, with an extra transfer of $980 million to be earmarked in 2014 [according to an earlier statement made by the Minister, this special transfer will go to finance prep works for EXPO-2017 to be held in Astana and some large-scaled infrastructure projects]………………………………………..Full Article: Source

Temasek Holdings Pte, Singapore’s state-owned investment company, said Wu Yibing will succeed Ding Wei as head for China to build on the firm’s presence in the country.
Wu is currently chairman and chief executive officer of Goldstone Investment Co., the direct investment arm of Citic Securities Co., Temasek said in a statement on its website. He will assume his post on Oct. 1………………………………………..Full Article: Source

Singapore sovereign investor Temasek Holdings plans to sell a stake worth up to US$185 million in Youku Tudou Inc, winding up its investment in the online video company, IFR reported on Friday, citing a term sheet of the transaction.
Temasek, through its affiliate Sennet Investments, is offering 7.7 million shares in US-listed Youku Tudou in a range of US$23.80 to US$24.00 each, said IFR, a Thomson Reuters publication. Credit Suisse was hired to manage the stake sale, it said………………………………………..Full Article: Source

Singapore’s state investment firm Temasek Holdings (Private) Ltd. Friday named Wu Yibing, the chief of a unit of CITIC Securities Co., as its head of China operations. Mr. Wu, currently the chief executive of Goldstone Investment Co. Ltd., will start on Oct. 1 to succeed Ding Wei, who will become advisory senior director for China with Temasek. Goldstone Investment is the direct investment arm of CITIC Securities.
Mr. Wu, 46, is also the President of CITIC Private Equity Funds Management. He has a wide range of investment experience in the financial, energy, consumer and technology sectors, Temasek said in a statement………………………………………..Full Article: Source

Private equity firm Bain Capital and Singapore’s sovereign wealth fund GIC have picked direct equity stake in public-listed company Hero MotoCorp, the world’s largest bike-maker in terms of volumes. This follows closure of a transaction announced last year where one of the promoter group entities merged with the bike maker.
The two financial investors held 28.37 per cent stake in promoter group holding entity, Hero Investments Pvt Ltd (HIPL), which has been merged with the listed group flagship of the Munjal family. Bain Capital owned 19.81 per cent while GIC held 8.56 per cent in HIPL; the rest was owned by the Munjals. HIPL, in turn, owned 43.33 per cent in Hero MotoCorp. Bain Capital has picked 8.58 per cent in Hero MotoCorp while GIC now holds 3.71 per cent in the bike maker………………………………………..Full Article: Source

Khazanah Nasional Bhd has divested its entire equity interest of 45.03% in Time Engineering Bhd to Censof Holdings Bhd at 20 sen per share for RM69.8mil cash. This confirms StarBiz’s report on Aug 15, which said that Censof, a low-profile information technology (IT) solutions provider, was close to becoming Time Engineering’s new shareholder and would be paying between 18 sen and 28 sen for the stake in the company.
At 20 sen per share, it is a 40% discount to Time Engineering’s last traded price of 28 sen………………………………………..Full Article: Source

Investors AustralianSuper and the Future Fund will appear in the Victorian Supreme Court next month in a dispute over ownership of Perth Airport, The Australian Financial Review reports.
According to the newspaper, the Future Fund declined voluntarily to provide documents the superannuation fund says will help it make a decision about whether to sue the Future Fund for its $875 million purchase of a 30 per cent stake in Perth airport………………………………………..Full Article: Source

Most of Europe is struggling with how to reduce spending, but not Norway. It has invested the income from its oil and gas reserves so wisely that it now has what many consider to be the world’s largest sovereign wealth fund, estimated to be worth $1tr (£0.6tr) by 2020. But is that too big?
They play the long game on the trading floor. When Facebook announced it was going to float on the stock market, the analysts here went to work. They assessed the pros and cons, the likely value of the company, the chance of a big loss, and of a big gain. Then they bought Facebook shares. Like everyone else who did they lost money almost immediately. Unlike many others however they did not rush to sell them………………………………………..Full Article: Source